26 CFR 1.6001-1 - Records.

Status message

(a)In general. Except as provided in paragraph (b) of this section, any person subject to tax under subtitle A of the Code (including a qualified State individual income tax which is treated pursuant to section 6361(a) as if it were imposed by chapter 1 of subtitle A), or any person required to file a return of information with respect to income, shall keep such permanent books of account or records, including inventories, as are sufficient to establish the amount of gross income, deductions, credits, or other matters required to be shown by such person in any return of such tax or information.

(b)Farmers and wage-earners. Individuals deriving gross income from the business of farming, and individuals whose gross income includes salaries, wages, or similar compensation for personal services rendered, are required with respect to such income to keep such records as will enable the district director to determine the correct amount of income subject to the tax. It is not necessary, however, that with respect to such income individuals keep the books of account or records required by paragraph (a) of this section. For rules with respect to the records to be kept in substantiation of traveling and other business expenses of employees, see § 1.162-17.

(c)Exempt organizations. In addition to such permanent books and records as are required by paragraph (a) of this section with respect to the tax imposed by section 511 on unrelated business income of certain exempt organizations, every organization exempt from tax under section 501(a) shall keep such permanent books of account or records, including inventories, as are sufficient to show specifically the items of gross income, receipts and disbursements. Such organizations shall also keep such books and records as are required to substantiate the information required by section 6033. See section 6033 and §§ 1.6033-1 through 1.6033-3.

(d)Notice by district director requiring returns statements, or the keeping of records. The district director may require any person, by notice served upon him, to make such returns, render such statements, or keep such specific records as will enable the district director to determine whether or not such person is liable for tax under subtitle A of the Code, including qualified State individual income taxes, which are treated pursuant to section 6361(a) as if they were imposed by chapter 1 of subtitle A.

(e)Retention of records. The books or records required by this section shall be kept at all times available for inspection by authorized internal revenue officers or employees, and shall be retained so long as the contents thereof may become material in the administration of any internal revenue law.

This correction is effective on July 2, 2015 and applicable beginning June 12, 2015.

26 CFR Part 1

Summary

This document contains corrections to final and temporary regulations (TD 9722) that were published in the Federal Register on June 12, 2015 (80 FR 33402). The final and temporary regulations prevent a corporate partner from avoiding corporate-level gain through transactions with a partnership involving equity interests of the partner.

This correction is effective on July 2, 2015 and applicable beginning June 12, 2015.

26 CFR Part 1

Summary

This document contains corrections to final and temporary regulations (TD 9722) that were published in the Federal Register on June 12, 2015 (80 FR 33402). The final and temporary regulations prevent a corporate partner from avoiding corporate-level gain through transactions with a partnership involving equity interests of the partner.

Effective Date: These regulations are effective on June 19, 2015. Applicability Date: For date of applicability, see § 1.432(e)(9)-1T(j).

26 CFR Parts 1 and 602

Summary

This document contains temporary regulations relating to multiemployer pension plans that are projected to have insufficient funds, at some point in the future, to pay the full benefits to which individuals will be entitled under the plans (referred to as plans in “critical and declining status”). The Multiemployer Pension Reform Act of 2014 (“MPRA”) amended the Internal Revenue Code to incorporate suspension of benefits provisions that permit these multiemployer plans to reduce pension benefits payable to participants and beneficiaries if certain conditions are satisfied. MPRA requires the Secretary of the Treasury, in consultation with the Pension Benefit Guaranty Corporation and the Secretary of Labor, to approve or deny applications by these plans to reduce benefits. As required by MPRA, these temporary regulations, together with proposed regulations being published at the same time, provide guidance implementing these statutory provisions. These temporary regulations affect active, retired, and deferred vested participants and beneficiaries of multiemployer plans that are in critical and declining status as well as employers contributing to, and sponsors and administrators of, those plans. The text of these temporary regulations also serves, in part, as the text of the proposed regulations (REG-102648-15) set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section of this issue of the Federal Register .

This correction is effective on June 15, 2015 and applicable May 8, 2015.

26 CFR Part 1

Summary

This document contains corrections to final regulations (TD 9719) that were published in the Federal Register on May 8, 2015 (80 FR 26437). The final regulations amend the treatment of nonperiodic payments made or received pursuant to certain notional principal contracts.

Effective Date: These regulations are effective on June 12, 2015. Applicability Date: For dates of applicability, see §§ 1.337(d)-3T(i) and 1.732-1T(c)(5).

26 CFR Part 1

Summary

This document contains final and temporary regulations that prevent a corporate partner from avoiding corporate-level gain through transactions with a partnership involving equity interests of the partner. These regulations affect partnerships and their partners. The text of these temporary regulations serves as the text of proposed regulations (REG-149518-03) published in the Proposed Rules section in this issue of the Federal Register .

Effective Date: These amendments are effective on June 5, 2015. Applicability Date: For the date of applicability, see § 1.6045A-1T(f), as corrected.

26 CFR Part 1

Summary

This document contains amendments to temporary regulations relating to information reporting by brokers for transfers of debt instruments. The amendments change the applicability date of the temporary regulations for reporting certain information on a transfer statement from June 30, 2015, to January 1, 2016. The amendments to the temporary regulations will provide guidance to brokers and their customers.

Effective Date: These regulations are effective on June 5, 2015. Applicability Date: For dates of applicability, see § 1.382-3(j)(17).

26 CFR Part 1

Summary

This document contains final regulations under section 382 of the Internal Revenue Code (Code) that modify the effective date provision of recently published regulations. These regulations affect corporations whose stock is or was acquired by the Department of the Treasury (Treasury) pursuant to certain programs under the Emergency Economic Stabilization Act of 2008 (EESA).

Effective date: These regulations are effective on June 4, 2015. Applicability date: For date of applicability, see § 1.7874-3(f).

26 CFR Part 1

Summary

This document contains final regulations regarding when an expanded affiliated group will be considered to have substantial business activities in a foreign country. These regulations affect certain domestic corporations and partnerships (and certain parties related to them), and foreign corporations that acquire substantially all of the properties of such domestic corporations or partnerships.

Effective Date. These regulations are effective on May 8, 2015. Applicability Date. For the dates of applicability, see §§ 1.446-3T(j)(2) and 1.956-2T(f).

26 CFR Part 1

Summary

This document contains final and temporary regulations amending the treatment of nonperiodic payments made or received pursuant to certain notional principal contracts. These regulations provide that, subject to certain exceptions, a notional principal contract with a nonperiodic payment, regardless of whether it is significant, must be treated as two separate transactions consisting of one or more loans and an on-market, level payment swap. This document also contains temporary regulations regarding an exception from the definition of United States property. These regulations affect parties making and receiving payments under notional principal contracts, including United States shareholders of controlled foreign corporations and tax-exempt organizations. The text of the temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking (REG-102656-15) on this subject in the Proposed Rules section in this issue of the Federal Register .

2015-05-04; vol. 80 # 85 - Monday, May 4, 2015

80 FR 25230 - Additional Requirements for Charitable Hospitals; Community Health Needs Assessments for Charitable; Requirements of a Section 4959 Excise Tax Return and Time for Filing the Return; Correction

This correction is effective on May 4, 2015 and applicable beginning December 31, 2014.

26 CFR Part 1

Summary

This document contains corrections to final regulations (TD 9708) that were published in the Federal Register on December 31, 2014 (79 FR 78954). The final regulations provide guidance regarding the requirements for charitable hospital organizations added by the Patient Protection and Affordable Care Act of 2010.

80 FR 25230 - Additional Requirements for Charitable Hospitals; Community Health Needs Assessments for Charitable; Requirements of a Section 4959 Excise Tax Return and Time for Filing the Return; Correction

This correction is effective on May 4, 2015 and applicable beginning December 31, 2014.

26 CFR Parts 1, 53, and 602

Summary

This document contains corrections to final regulations (TD 9708) that were published in the Federal Register on December 31, 2014 (79 FR 78954). The final regulations provide guidance regarding the requirements for charitable hospital organizations added by the Patient Protection and Affordable Care Act of 2010.

This correction is effective April 27, 2015 and applicable April 3, 2015.

26 CFR Part 1

Summary

This document contains corrections to final regulations (TD 9717) that were published in the Federal Register on Friday, April 3, 2015 (80 FR 18096). The final regulations are relating to the allocation of the credit for increasing research activities (research credit) to corporations and trades or businesses under common control (controlled groups).

This correction is effective April 27, 2015 and applicable April 3, 2015.

26 CFR Part 1

Summary

This document contains corrections to final regulations (TD 9717) that were published in the Federal Register on Friday, April 3, 2015 (80 FR 18096). The final regulations are relating to the allocation of the credit for increasing research activities (research credit) to corporations and trades or businesses under common control (controlled groups).

This correction is effective on April 27, 2015 and applicable April 1, 2015.

26 CFR Part 1

Summary

This document contains corrections to final regulations (TD 9715) that were published in the Federal Register on April 1, 2015 (80 FR 17314). The final regulations are regarding the agent for an affiliated group of corporations that files a consolidated return (consolidated group).

This correction is effective on April 27, 2015 and applicable beginning April 1, 2015.

26 CFR Parts 1 and 602

Summary

This document contains corrections to final regulations (TD 9715) that were published in the Federal Register on April 1, 2015 (80 FR 17314). The final regulations are regarding the agent for an affiliated group of corporations that files a consolidated return (consolidated group).

This correction is effective April 17, 2015 and applicable July 2, 2014.

26 CFR Part 1

Summary

This document contains a correction to final and temporary regulations (TD 9674) that were published in the Federal Register on Wednesday, July 2, 2014 (79 FR 37630). The final and temporary regulations provide guidance to eligible organizations seeking recognition of tax-exempt status under section 501(c)(3) of the Internal Revenue Code.

This correction is effective on April 16, 2015 and applicable beginning March 13, 2015.

26 CFR Part 1

Summary

This document contains corrections to final and temporary regulations (TD 9713) that were published in the Federal Register on March 13, 2015 (80 FR 13233). The final regulations are relating to information reporting by brokers for bond premium and acquisition premium.

Effective date: These regulations are effective April 3, 2015. Applicability date: For dates of applicability, see §§ 1.41-6T(j), 1.45G-1T(g), and 1.280C-4T(c).

26 CFR Part 1

Summary

This document contains final and temporary regulations relating to the allocation of the credit for increasing research activities (research credit) to corporations and trades or businesses under common control (controlled groups)... This document also contains final and temporary regulations relating to the allocation of the railroad track maintenance credit and the election for a reduced research credit. The text of these temporary regulations also serves as the text of the proposed regulations (REG-133489-13) published in the Proposed Rules section in this issue of the Federal Register .

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

Written or electronic comments and request for a public hearing for the notice of proposed rulemaking at 80 FR 22449, April 22, 2015, are still being accepted and must be received by July 21, 2015.

26 CFR Parts 1, 301, and 602

Summary

This document contains corrections to a notice of proposed rulemaking (REG-103281-11) that was published in the Federal Register on Wednesday, April 22, 2015 (80 FR 22449), the proposed regulations are relating to the 2 percent tax on payments made by the U.S. government to foreign persons pursuant to certain contracts.

This correction is effective on July 2, 2015 and applicable beginning June 12, 2015.

26 CFR Part 1

Summary

This document contains corrections to final and temporary regulations (TD 9722) that were published in the Federal Register on June 12, 2015 (80 FR 33402). The final and temporary regulations prevent a corporate partner from avoiding corporate-level gain through transactions with a partnership involving equity interests of the partner.

This correction is effective on July 2, 2015 and applicable beginning June 12, 2015.

26 CFR Part 1

Summary

This document contains corrections to final and temporary regulations (TD 9722) that were published in the Federal Register on June 12, 2015 (80 FR 33402). The final and temporary regulations prevent a corporate partner from avoiding corporate-level gain through transactions with a partnership involving equity interests of the partner.

Partial withdrawal of notice of proposed rulemaking, notice of proposed rulemaking, and notice of public hearing.

Written or electronic comments must be received by September 22, 2015. Requests to speak and outlines of topics to be discussed at the public hearing scheduled for October 28, 2015, at 10:00 a.m., must be received by September 22, 2015.

26 CFR Part 1

Summary

This document partially withdraws the portion of the notice of proposed rulemaking published in the Federal Register on September 16, 2013 (78 FR 56842), relating to the definition of issue price for purposes of the arbitrage restrictions under section 148 of the Internal Revenue Code (Code). This document also contains a notice of proposed rulemaking that provides a revised definition of issue price for purposes of the arbitrage restrictions. In addition, this document provides notice of a public hearing on the proposed regulations in this document. The proposed regulations in this document affect issuers of tax-exempt and other tax-advantaged bonds.

Comments must be received by September 21, 2015. Outlines of topics to be discussed at the public hearing scheduled for October 14, 2015, at 10 a.m., must be received by September 21, 2015.

26 CFR Parts 1, 25, 26, and 301

Summary

This document contains proposed regulations under section 529A of the Internal Revenue Code that provide guidance regarding programs under The Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014. Section 529A provides rules under which States or State agencies or instrumentalities may establish and maintain a new type of tax-favored savings program through which contributions may be made to the account of an eligible disabled individual to meet qualified disability expenses. These accounts also receive favorable treatment for purposes of certain means-tested Federal programs. In addition, these proposed regulations provide corresponding amendments to regulations under sections 511 and 513, with respect to unrelated business taxable income, sections 2501, 2503, 2511, 2642 and 2652, with respect to gift and generation-skipping transfer taxes, and section 6011, with respect to reporting requirements. This document also provides notice of a public hearing on these proposed regulations.

Effective Date: These regulations are effective on June 19, 2015. Applicability Date: For date of applicability, see § 1.432(e)(9)-1T(j).

26 CFR Parts 1 and 602

Summary

This document contains temporary regulations relating to multiemployer pension plans that are projected to have insufficient funds, at some point in the future, to pay the full benefits to which individuals will be entitled under the plans (referred to as plans in “critical and declining status”). The Multiemployer Pension Reform Act of 2014 (“MPRA”) amended the Internal Revenue Code to incorporate suspension of benefits provisions that permit these multiemployer plans to reduce pension benefits payable to participants and beneficiaries if certain conditions are satisfied. MPRA requires the Secretary of the Treasury, in consultation with the Pension Benefit Guaranty Corporation and the Secretary of Labor, to approve or deny applications by these plans to reduce benefits. As required by MPRA, these temporary regulations, together with proposed regulations being published at the same time, provide guidance implementing these statutory provisions. These temporary regulations affect active, retired, and deferred vested participants and beneficiaries of multiemployer plans that are in critical and declining status as well as employers contributing to, and sponsors and administrators of, those plans. The text of these temporary regulations also serves, in part, as the text of the proposed regulations (REG-102648-15) set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section of this issue of the Federal Register .

Notice of proposed rulemaking, notice of proposed rulemaking by cross-reference to temporary regulations, and notice of public hearing.

Comments must be received by August 18, 2015. Outlines of topics to be discussed at the public hearing scheduled for September 10, 2015 must be received by August 18, 2015.

26 CFR Part 1

Summary

This document contains proposed regulations relating to multiemployer pension plans that are projected to have insufficient funds, at some point in the future, to pay the full benefits to which individuals will be entitled under the plans (referred to as plans in “critical and declining status”). The Multiemployer Pension Reform Act of 2014 (“MPRA”) amended the Internal Revenue Code to incorporate suspension of benefits provisions that permit these multiemployer plans to reduce pension benefits payable to participants and beneficiaries if certain conditions are satisfied. MPRA requires the Secretary of the Treasury, in consultation with the Pension Benefit Guaranty Corporation and the Secretary of Labor, to approve or deny applications by these plans to reduce benefits. As required by MPRA, these proposed regulations, together with temporary regulations being published at the same time, provide guidance implementing these statutory provisions. These proposed regulations would affect active, retired, and deferred vested participants and beneficiaries of multiemployer plans that are in critical and declining status as well as employers contributing to, and sponsors and administrators of, those plans.

2015-06-18; vol. 80 # 117 - Thursday, June 18, 2015

80 FR 34856 - Qualifying Income From Activities of Publicly Traded Partnerships With Respect to Minerals or Natural Resources; Correction

Written or electronic comments and requests for a public hearing for the notice of proposed rulemaking published at 80 FR 25970, May 6, 2015 are still being accepted and must be received by August 4, 2015.

26 CFR Part 1

Summary

This document contains corrections to a notice of proposed rulemaking (REG-132634-14) that was published in the Federal Register on Wednesday, May 6, 2015 (80 FR 25970). The proposed rules provide guidance on qualifying income from exploration, development, mining or production, processing, refining, transportation, and marketing of minerals or natural resources.

This correction is effective on June 15, 2015 and applicable May 8, 2015.

26 CFR Part 1

Summary

This document contains corrections to final regulations (TD 9719) that were published in the Federal Register on May 8, 2015 (80 FR 26437). The final regulations amend the treatment of nonperiodic payments made or received pursuant to certain notional principal contracts.

The public hearing originally scheduled for June 24, 2015 at 10 a.m. is cancelled.

26 CFR Part 1

Summary

This document cancels a public hearing on proposed regulations that provide the method to be used to adjust the applicable Federal rates (AFRs) under section 1288 of the Internal Revenue Code (adjusted AFRs) for tax-exempt obligations and the method to be used to determine the long-term tax-exempt and the adjusted Federal long-term rate under section 382.

Effective Date: These regulations are effective on June 12, 2015. Applicability Date: For dates of applicability, see §§ 1.337(d)-3T(i) and 1.732-1T(c)(5).

26 CFR Part 1

Summary

This document contains final and temporary regulations that prevent a corporate partner from avoiding corporate-level gain through transactions with a partnership involving equity interests of the partner. These regulations affect partnerships and their partners. The text of these temporary regulations serves as the text of proposed regulations (REG-149518-03) published in the Proposed Rules section in this issue of the Federal Register .

Withdrawal of notice of proposed rulemaking and notice of proposed rulemaking by cross-reference to temporary regulations.

Comments and requests for a public hearing must be received by September 10, 2015.

26 CFR Part 1

Summary

In the Rules and Regulations section of this issue of the Federal Register, the IRS and the Treasury Department are issuing temporary regulations that prevent a corporate partner from using a partnership to avoid corporate level gain required to be recognized. These regulations affect partnerships and their partners. The text of the temporary regulations in this issue of the Federal Register also serves as the text of these proposed regulations.

Comments and requests for a public hearing must be received by September 10, 2015.

26 CFR Part 1

Summary

This document contains proposed regulations that would allow consolidated group members that are partners in the same partnership to aggregate their bases in stock distributed by the partnership for the purpose of limiting the application of rules that might otherwise cause basis reduction or gain recognition. The proposed regulations would also require certain corporations that engage in gain elimination transactions to reduce the basis of corporate assets or to recognize gain. The proposed regulations affect partnerships and their partners.

Written or electronic comments, and a request for a public hearing, must be received by September 9, 2015.

26 CFR Parts 1 and 301

Summary

This document contains proposed amendments to the consolidated return regulations. These amendments would revise the rules concerning the use of a consolidated group's losses in a consolidated return year in which stock of a subsidiary is disposed of. The regulations would affect corporations filing consolidated returns.

Effective Date: These amendments are effective on June 5, 2015. Applicability Date: For the date of applicability, see § 1.6045A-1T(f), as corrected.

26 CFR Part 1

Summary

This document contains amendments to temporary regulations relating to information reporting by brokers for transfers of debt instruments. The amendments change the applicability date of the temporary regulations for reporting certain information on a transfer statement from June 30, 2015, to January 1, 2016. The amendments to the temporary regulations will provide guidance to brokers and their customers.

Effective Date: These regulations are effective on June 5, 2015. Applicability Date: For dates of applicability, see § 1.382-3(j)(17).

26 CFR Part 1

Summary

This document contains final regulations under section 382 of the Internal Revenue Code (Code) that modify the effective date provision of recently published regulations. These regulations affect corporations whose stock is or was acquired by the Department of the Treasury (Treasury) pursuant to certain programs under the Emergency Economic Stabilization Act of 2008 (EESA).

Effective date: These regulations are effective on June 4, 2015. Applicability date: For date of applicability, see § 1.7874-3(f).

26 CFR Part 1

Summary

This document contains final regulations regarding when an expanded affiliated group will be considered to have substantial business activities in a foreign country. These regulations affect certain domestic corporations and partnerships (and certain parties related to them), and foreign corporations that acquire substantially all of the properties of such domestic corporations or partnerships.

Written or electronic comments and requests for a public hearing must be received by August 18, 2015.

26 CFR Part 1

Summary

This document contains proposed regulations under section 597 of the Internal Revenue Code (the “Code”). The proposed regulations, which will apply to banks and domestic building and loan associations (and related parties) that receive Federal financial assistance (“FFA”), will modify and clarify the treatment of transactions in which FFA is provided to such institutions. This document also invites comments from the public and requests for a public hearing regarding these proposed regulations.

Written or electronic comments and requests for a public hearing must be received by August 10, 2015.

26 CFR Part 1

Summary

This document contains proposed regulations that provide guidance regarding the application of the modified carryover basis rules of section 1022 of the Internal Revenue Code (Code). Specifically, the proposed regulations will modify provisions of the Treasury Regulations involving basis rules by including a reference to section 1022 where appropriate. The regulations will affect property transferred from certain decedents who died in 2010. The regulations reflect changes to the law made by the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.

Effective Date. These regulations are effective on May 8, 2015. Applicability Date. For the dates of applicability, see §§ 1.446-3T(j)(2) and 1.956-2T(f).

26 CFR Part 1

Summary

This document contains final and temporary regulations amending the treatment of nonperiodic payments made or received pursuant to certain notional principal contracts. These regulations provide that, subject to certain exceptions, a notional principal contract with a nonperiodic payment, regardless of whether it is significant, must be treated as two separate transactions consisting of one or more loans and an on-market, level payment swap. This document also contains temporary regulations regarding an exception from the definition of United States property. These regulations affect parties making and receiving payments under notional principal contracts, including United States shareholders of controlled foreign corporations and tax-exempt organizations. The text of the temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking (REG-102656-15) on this subject in the Proposed Rules section in this issue of the Federal Register .

Withdrawal of notice of proposed rulemaking; notice of proposed rulemaking by cross-reference to temporary regulations.

Comments and requests for a public hearing must be received by August 6, 2015.

26 CFR Part 1

Summary

In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing final and temporary regulations that amend the treatment of nonperiodic payments made or received pursuant to certain notional principal contracts. These regulations provide that, subject to certain exceptions, a notional principal contract with a nonperiodic payment, regardless of whether it is significant, must be treated as two separate transactions consisting of one or more loans and an on-market, level payment swap. The regulations provide an exception from the definition of United States property. These regulations affect parties making and receiving payments under notional principal contracts, including United States shareholders of controlled foreign corporations and tax-exempt organizations. The text of the temporary regulations also serves as the text of these proposed regulations. This document withdraws the notice of proposed rulemaking (REG-107548-11; RIN 1545-BK10) published in the Federal Register on May 11, 2012 (77 FR 27669).

2015-05-06; vol. 80 # 87 - Wednesday, May 6, 2015

80 FR 25970 - Qualifying Income From Activities of Publicly Traded Partnerships With Respect to Minerals or Natural Resources

This correction is effective on May 4, 2015 and applicable beginning December 31, 2014.

26 CFR Part 1

Summary

This document contains corrections to final regulations (TD 9708) that were published in the Federal Register on December 31, 2014 (79 FR 78954). The final regulations provide guidance regarding the requirements for charitable hospital organizations added by the Patient Protection and Affordable Care Act of 2010.

80 FR 25230 - Additional Requirements for Charitable Hospitals; Community Health Needs Assessments for Charitable; Requirements of a Section 4959 Excise Tax Return and Time for Filing the Return; Correction

This correction is effective on May 4, 2015 and applicable beginning December 31, 2014.

26 CFR Parts 1, 53, and 602

Summary

This document contains corrections to final regulations (TD 9708) that were published in the Federal Register on December 31, 2014 (79 FR 78954). The final regulations provide guidance regarding the requirements for charitable hospital organizations added by the Patient Protection and Affordable Care Act of 2010.

This correction is effective April 27, 2015 and applicable April 3, 2015.

26 CFR Part 1

Summary

This document contains corrections to final regulations (TD 9717) that were published in the Federal Register on Friday, April 3, 2015 (80 FR 18096). The final regulations are relating to the allocation of the credit for increasing research activities (research credit) to corporations and trades or businesses under common control (controlled groups).

This correction is effective April 27, 2015 and applicable April 3, 2015.

26 CFR Part 1

Summary

This document contains corrections to final regulations (TD 9717) that were published in the Federal Register on Friday, April 3, 2015 (80 FR 18096). The final regulations are relating to the allocation of the credit for increasing research activities (research credit) to corporations and trades or businesses under common control (controlled groups).

This correction is effective on April 27, 2015 and applicable April 1, 2015.

26 CFR Part 1

Summary

This document contains corrections to final regulations (TD 9715) that were published in the Federal Register on April 1, 2015 (80 FR 17314). The final regulations are regarding the agent for an affiliated group of corporations that files a consolidated return (consolidated group).

This correction is effective on April 27, 2015 and applicable beginning April 1, 2015.

26 CFR Parts 1 and 602

Summary

This document contains corrections to final regulations (TD 9715) that were published in the Federal Register on April 1, 2015 (80 FR 17314). The final regulations are regarding the agent for an affiliated group of corporations that files a consolidated return (consolidated group).

Notice of proposed rulemaking by cross-reference to temporary and notice of public hearing; correction.

This correction is effective April 27, 2015 and applicable April 3, 2015.

26 CFR Part 1

Summary

This document contains corrections to notice of proposed rulemaking by cross-reference to temporary and notice of public hearing (REG-133489-13) that were published in the Federal Register on Friday, April 3, 2015 (80 FR 18171). The notice of proposed rulemaking by cross-reference to temporary and notice of public hearing are relating to the allocation of the credit for increasing research activities (research credit) to corporations and trades or businesses under common control (controlled groups).

Written or electronic comments and requests for a public hearing must be received by July 23, 2015.

26 CFR Part 1

Summary

This document contains proposed regulations that provide guidance regarding when a foreign insurance company's income is excluded from the definition of passive income under section 1297(b)(2)(B). The proposed regulations affect the U.S. shareholders of foreign corporations. This document also invites comments from the public on all aspects of the proposed rules and provides the opportunity for the public to request a public hearing.

Written or electronic comments and requests for a public hearing must be received by July 21, 2015.

26 CFR Parts 1, 301, and 602

Summary

This document contains proposed regulations under section 5000C of the Internal Revenue Code relating to the 2 percent tax on payments made by the U.S. government to foreign persons pursuant to certain contracts. The proposed regulations affect U.S. government acquiring agencies and foreign persons providing certain goods or services to the U.S. government pursuant to a contract. This document also contains proposed regulations under section 6114, with respect to foreign persons claiming an exemption from the tax under an income tax treaty.

This correction is effective April 17, 2015 and applicable July 2, 2014.

26 CFR Part 1

Summary

This document contains a correction to final and temporary regulations (TD 9674) that were published in the Federal Register on Wednesday, July 2, 2014 (79 FR 37630). The final and temporary regulations provide guidance to eligible organizations seeking recognition of tax-exempt status under section 501(c)(3) of the Internal Revenue Code.

This correction is effective on April 16, 2015 and applicable beginning March 13, 2015.

26 CFR Part 1

Summary

This document contains corrections to final and temporary regulations (TD 9713) that were published in the Federal Register on March 13, 2015 (80 FR 13233). The final regulations are relating to information reporting by brokers for bond premium and acquisition premium.

Correction to a notice of proposed rulemaking by cross- reference to temporary regulations.

Written or electronic comments and requests for a public hearing for the notice of proposed rulemaking by cross-reference to temporary regulations published at 80 FR 13292, March 13, 2015, are still being accepted and must be received by June 11, 2015.

26 CFR Part 1

Summary

This document contains corrections to a notice of proposed rulemaking by cross-reference to temporary regulations (REG-143040-14) that was published in the Federal Register on Friday, March 13, 2015 (80 FR 13292). The IRS is issuing temporary regulations relating to information reporting by brokers for transactions involving debt instruments and options.

Effective date: These regulations are effective April 3, 2015. Applicability date: For dates of applicability, see §§ 1.41-6T(j), 1.45G-1T(g), and 1.280C-4T(c).

26 CFR Part 1

Summary

This document contains final and temporary regulations relating to the allocation of the credit for increasing research activities (research credit) to corporations and trades or businesses under common control (controlled groups)... This document also contains final and temporary regulations relating to the allocation of the railroad track maintenance credit and the election for a reduced research credit. The text of these temporary regulations also serves as the text of the proposed regulations (REG-133489-13) published in the Proposed Rules section in this issue of the Federal Register .

Notice of proposed rulemaking by cross-reference to temporary regulations and notice of public hearing.

Comments and requests for a public hearing must be received by July 2, 2015.

26 CFR Part 1

Summary

This document contains proposed regulations relating to the allocation of the group credit. The proposed regulations will affect certain taxpayers claiming the credit. In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations providing guidance relating to the allocation of the credit for increasing research activities (research credit) to corporations and trades or businesses under common control (controlled groups). The temporary regulations also contain rules relating to the allocation of the railroad track maintenance credit (RTMC) and the election for a reduced research credit. The text of the temporary regulations also serves as the text of these proposed regulations.